You are considering purchasing a restaurant franchise. You have projected that the franchise will earn $120,000 in profits the first year, and that those profits will grow 19.1% per year for the next 5 years, 10.9% per year for the 4 years after that, and 6.3% per year for every subsequent year. You also project that you will own the franchise for a total of 20 years, at which point you will be able to sell it for $7,670,000. If you need the investment to return at least a 13.7%, what is the most you will be willing to pay for the franchise? (20 points total)